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brown. we begin with negotiations to avert the so-called fiscal cliff both republicans and white house hold their lines and no formal talks yesterday. president obama said he wasn't ruling out some reductions in entitlement programs such as medicare and social security, meanwhile house speaker john boehner has to win over hard liners in his own party. susan mcginnis is following it all. >> reporter: hi. good morning. there are some glimmers of common ground here among the two sides that could form the basis of a deal. the president is now talking about actually lowering the tax rate for the top 2% not now but later. and republicans are now taking some heat over their latest plan a lot of it from within their own party. >> five, four -- >> reporter: house speaker john boehner led the countdown to the lighting of the capitol hill christmas tree last night. >> one. >> reporter: but a different countdown weighs on the minds of these lawmakers, the countdown to the fiscal cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> rep
't be a fiscal cliff deal without that tax increase. the white house today dismissed that counteroffer as nothing new and urged republicans to "get serious about the fiscal cliff negotiations." but, scott, that's exactly what republicans were saying about the president on friday. >> pelley: wyatt, thank you. the president has not decided whether to order an end to a strike that has crippled traffic at the nation's two busiest seaports. the ports of los angeles and long beach shut down after a few dozen clerical workers walked off the job and dock workers refused to cross their picket line. bill whitaker has the latest. >> reporter: 11 huge cargo ships are stuck offshore, piled high with containers of food, toys, lumber. 14 others sit untouched at the docks. >> if you guys could start handing the fliers out. >> reporter: transporters, wholesalers and retailers are growing angst. ingrid lazcano, owner of andean dream, imports quinoa, popular right now in the u.s. her last shipment was diverted to mexico, another was diverted to chile. >> we have about $400,000 worth of merchandise at stake and our
the fiscal cliff? but the g.o.p. is not so keen on a deal, at least the one the white house presented yesterday. the first offer from president obama and treasury secretary timothy geithner included a $1.6 trillion tax increase along with an extension of the payroll answer it cut and unemployment insurance and a request for $50,000,000,000 worth of stimulus spending next year. now, it doesn't promise $400,000,000,000 worth of spending cuts but congressional republicans call the deal unbalanced and unreasonable and saying there is not enough spending cuts and reforms. the one good piece of -- piece of good news to the white house on this is it shows president obama is opening strong not conceding. we will be right back. arguments to feel confident in their positions. i want them to have the data and i want them to have the passion. but it's also about telling them, you're put on this planet for something more. i want this show to have an impact beyond just informing. an impact that gets people to take action themselves. as a human being, that's really important.
verbal warnings. >>> the politics now and ongoing finger pointing over the fiscal cliff. the white house says it's not making a deal unless republicans agree to raise taxes on the top 2% of the nation. one republican congressman from ohio tells cnn that approach is just a drop in the bucket when it comes to the deficit offering his thoughts on what it will take to reach a solution. >> if you look at just what the president is talking about, everybody says the 2% and so forth and so on. that generates $900 billion over ten years which is $90 billion a year. that would operate the government for 11 days. so we are borrowing $1.6 trillion. i think the president if he wants to take the deal and comes forward with real entitlement reform, there's a deal to be had. this is going to be a negotiation between the president of the united states and house speaker john boehner and so we have engaged in some charades over the last 16 years where we all pretend to be working in our offices but we're not doing anything to get this done because there's nothing we can do. this is going to be a discussion
and everyone else who has come through capitol hill and the white house to talk about the fiscal cliff. for the first time since this drama began to play out on a very public stage, yesterday there were no substantive negotiations or conversations whatsoever, none at all. and here is what the public thinks about all this. if, in fact, the nation does go off the fiscal cliff and negative consequences ensue, by a two to one ratio, by the most recent poll, it will blame republican, not the white house. the white house knows this, believes it's in a strong position and intends to use that leverage when and if negotiations begin. for "cbs this morning," major garrett at the white house. >>> federal health officials are watching a medical crisis, an earlier-than-usual flu season. the south is already hit hard, one month earlier. three school systems in tennessee say so many teachers and students are sick, they've closed for the rest of the week. health officials also say this year' flu strain is making patients sicker than normal. the good news, this year's vaccines seem to work well against
% savings. melissa: as washington is in the middle of this tumultuous fiscal cliff negotiations from a white house looking for more money in the terms of emotions the aid request rebuilding efforts. still willing from super storm sandy here in the northeast. peter barnes in washington with the latest on that effort. speaker according to "the new york times" for white house will be looking for about $50 billion to help rebuild from hurricane sandy. officials testifying declined to comment that number but they did say the white house will be sending in disaster relief bill up to congress by the end of the week. the three hardest hit states: new york, new jersey and connecticut alone are seeking $80 billion in federal help. the administration is teeing up a big request. >> much of the impact of sandy go beyond fema programs. fema's assistance is limited, maximum benefits of individual family could receive is about $31,000 if they have no assurance. others that will not rebuild destroyed or damaged home to did not have insurance. >> woke up to this headline. u.s. denies aid to the maryland storm
did hold a fiscal cliff phone call. but there is still one big problem. the white house still doesn't want to budge. >> we saw no prospect for an agreement that doesn't involve the rates going up on the top 2%. >> gretchen: but isn't government spending the real problem? why aren't we hearing a lot about that, a lot of dough being thrown around. >> brian: how much do you know about the fiscal cliff? >> it reminds me about something i probably learned in school. but some type of cliff, the economy going pow. >> isn't that the government? this is embarrassing. >> brian: how many people really know what it is and what it means? we hit the streets. >> steve: indeed, and bob costas and his no spin zone to defend his half time gun control rant. what did he say and what does former nfl player think? he will join us live to react this hour. "fox & friends" hour two for thursday starts right now. >> gretchen: i thought the same thing that scarlet johansson was in times square answering ainsley's question. i thought what, a lucky day for steve and brian that yesterday they would have petra an
. president and speaker hold a fiscal cliff call. there is a problem, the white house doesn't want to budge. >> we face no agreement that doesn't involve the rates going up on the top two percent. >> gretchen: so is it really progress or a stand still. >> steve: meanwhile the reverend behind this nativity scene. live pictures and he has a message from the federal government. merry christmas, government. you are not the real savior. the reverend joins us live this christmas season. >> brian: super storm sandy couldn't wipe out his home but something else did. >> she said to me. are you sure your house is gone. you misplace a pen and pencil but not a house. >> gretchen: how the entire house vanished. "fox and friends" starts right now. ♪ ♪ "fox and friends". >> steve: a house is something that is not easy to misplace. if you leave it there, you come back and it is there. >> gretchen: you hope that happens. we'll fill you in on the details. in the meantime what happen in a phone call. a lot can happen, right. you can get in fights and agreements and compromise. hum, i am not so sure that h
at the white house with more. >> reporter: exactly one month ago to avoid the fiscal cliff and after a period of optimism and what we have right now is a typical white house standoff. visiting a toy factory outside philadelphia, president urged congress to act and avoid the fiscal cliff. if not, taxes go up for everyone, including the middle class. >> that is like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: the president has started a new campaign for votes in congress. a grassroots effort on twitter and a friday trip in swing distri districts. allow rates to rise on the upper 2% of earners while extending lower rates for everyone else. >> it is not acceptable for you for the handful of republicans and democrats in congress to hold tax cuts hostage because they don't want tax rates to go up on upper income folks. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue. half from higher rates in the wealthy. cuts in medicare and $50 billion in new infrastructure spending. when tim geithner laid out the plan for mitch mcconnell, aides on b
to the fiscal cliff. we're live at the white house with the very latest. what happened. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the mke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. david: what a strange day. some are way up, some are way down. shares of verifone systems are getting a boost. nicole with more on that. nicole: some stocks jumping, this is a day that verifone is jumping. take a look at the stock right now, a gain of 7.5%. an upgrade from a neutral setting the emerging competition that everybody is worried about is overdone. his growth story is impacted. when they get lake square for example, they are not worried about them at all. with the story they have a price target of $39, which obviously has upside potential clos
%. >>> and yahoo ceo marissa mayer is meeting with president obama to discuss the fiscal cliff. we just got a picture from the white house. you can see mayer just barely there on the right-hand side -- on the left-hand side of the picture, bottom left-hand corner. she joined more than a dozen other business leaders at the white house today. mayer is also making headlines for her speech to an invite only crowd in palo alto last night. she said she juggles her priorities listing god, family and yahoo. adding, quote, the baby's been way easier than everyone made it out to be. so those have been the two really terrific surprises. the kid has been easier, and the job has been fun. >>> for the second straight day, heroic actions saved lives from a burning vehicle. the good samaritan in this case jesus hernandez saw an rv on fire in east san jose. it happened this morning, and he heard screams for help from that rv. he grabbed a garden hose and was able to open the door and help two women out of the rv. when firefighters showed up, they pulled out a 4 week old pit bullpuppy from the fire. investig
hard numbers from the white house to resolve the fiscal cliff crisis landed with a thud on capitol hill. congressional republicans called it an insulting joke. here's the big picture-- $4 trillion of deficit reduction over the next 10 years. it includes $1.6 trillion in higher taxes on households make manage more than $250,000. there's also $400 billion in cuts to entitlement programs, like medicaid and medicare, as well as others. there is also fresh new aending. $50 billion next year in stimulus spending, all for infrastructure. the white house calls this an opening bid. house republicans call it a rehash of old ideas and also object to the idea of a white house asking a permanent legislative remedy to raising the debt ceiling, all of it, the republicans say rather, is unacceptable. now much of this was conveyed in a 28-minute phone conversation yesterday between president obama and house speaker john boehner. both sides describe that conversation, scott, as direct and candid. those are words custom early reserved for diplomacy between sworn adversaries and tonight that might be where
on the fiscal cliff talks. competing plans from the white house and republicans was little talk of compromise. if the white house plans raises taxes on any and come over to london and $50,000 with 350 billion in cuts to medicare and 200 billion in new stimulus and and fracture spending. the republican counter offer has deeper cuts to a medicare and reduces the social security cost of living increase. but it has no tax increases. it raises revenue through closing tax loopholes and this deductions. raising 800 billion over 10 years. does have a what the president is proposing.hite house he immediately rejected the republicans' proposal. the president is saying that he will not accept a proposal without a tax increase for the wealthier americans. it is 27 days until the fiscal cliff. >> u.s. officials say that the white house and its allies are weighing military options to secure serious chemical and biological weapons. this comes after u.s. intelligence reports show that the syrian regimen may be ready and those weapons and may be desperate enough to use them. president barack obama told an aud
laughing in the white house negotiator's face. so is there any hope of a compromise over the fiscal cliff. we're talking to the newly re-elected minority whip steny hoyer coming up next. ♪ well, it's that time of year again. you know, picture-taking season. and with photo stream, you can share all the photos you want, with just the people you want. it's as easy as pie. mmmm..pie. [ female announcer ] holiday cookies are a big job. everything has to be just right. perfection is in the details. ♪ get to holiday fun faster with pillsbury cookie dough. >>> 17 minutes past the hour here on a friday. well, the white house plan to avoid the fiscal cliff to congressional leaders, and republicans, laughed in their faces. literally in the case of mitch mcconnell. >> the plan calls for $1.6 trillion in new tax revenues, $400 billion in cuts to medicare and other entitlements, $50 billion for a new stimulus, and republicans really didn't like this one, congress would have to give up control over raising the debt limit. we want to bring in now the recently re-elected house minority whip maryland c
. >>> talks between the white house and republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my pancakes.
is at the white house for us tonight. major? >> reporter: scott, the white house does not deny opening fiscal cliff proposals ignore persistent republican demands for deeper spending cuts than the president has already proposed. that's the point. no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >> in washington nothing's easy so there's going to be prolonged negotiations. and all of us are going to have so get out of our comfort zones to make that happen. g'm willing to do that. i'm hopeful that enough members of con willing to do that as well. we can solve these problems. but where the clock is really ticking right now is on middle- class taxes. >> reporter: but the clock isng. the cold political reality is this: mr. obama is now on record seeking twice as much in higher tax revenue than the democratically controlled senate passed earlier this year with only 51 v
on the fiscal cliff. but john boehner showed up at the white house christmas party last night. yeah free booze. that will get them every time. what do you say? hello, everybody. great to see you today. it is tuesday december 4. this is the "full court press." booming out to you live on your local progressive talk radio station on sirius x.m. this hour only. for some reason. and all three hours of course, on current tv. great to see you today. thanks for being part of the program. we've got lots and lots to talk about. on the news here from our nation's capital. on the news around the country. here in our nation's capital, it is mainly fiscal cliff. around the country, duane says it is too bad his girlfriend didn't have a gun then they could have had a shoot-out and other people could have been killed. in syria more signs of president assad's days are numbered and the white house warning syria you better not think about using chemical weapons like saddam hussein did. so we'll bring it all to you. take your calls. giv
. >>> rejected. the gop snubs the white house's opening offer in fiscal cliff talks. >>> upgraded palestine celebrates a new status despite stiff american opposition. >>> rich and now famous. we know the identity of one of those lucky power ball jackpot winners. >> that's good news. >> can't wait to meet that person. >> good morning. welcome to "early start." i'm christine romans. it's friday. >> happy friday. john berman is hosting "starting point" at 7:00. the middle east is getting ugly. insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him
is speaking out about the fiscal cliff in his first television interview since the election. he spoke with bloomberg's white house correspondent yesterday and the white house just aired on bloomberg television minutes ago. here's some of what the president had to say about the republican proposal to close tax loopholes without raising taxes on the country's top 2%. >> it's not me being stubborn. it's not me being partisan. it's a matter of math. you know, there's a lot of talk that somehow we can raise $800 billion or a trillion worth of revenue by closing loop hopes and destructions. but a lot of your viewers understand that the only way to do that if you completely eliminated, for example, charitable deductions. well, if you eliminate charitable deductions that means every hospital and university and nonfor profit agency across the country would suddenly find themselves on the verge of collapse. so that's not a realistic option. >> that aired a few minutes ago. we'll have a lot more on that in the next hour of newsroom. so do stick around for that. >>> it is a fight over heritage an
. with the senate and the house and the white house trying to get together on how to avoid the fiscal cliff. give us a call at 1-866-55-press. and president obama with an unusual guest for lunch at the white house today. none other than mitt romney himself. tagg, by the way, was not invited. secret service says he couldn't bring tagg along with him. no photographers will be allowed. no alcohol will be served. the white house has not released what the agenda will be but they did release the menu. mitt romney will be served a healthy helping of crow. can't wait to see that. we'll be right back here. but first let's get all of the latest today's current news update from lisa ferguson out in los angeles. hi lisa, good morning. >> hey bill, good morning everyone. the election may be over but many of president obama's supporters are not ready to call it quits just yet. obama for america is out with a new poll this week surveying one million obama voters and they found 80% want to continue volunteering. that will most likely be
go over the fiscal cliff? new numbers are out and alison burns joins us live with more. >> reporter: a few research polls out show more americans would blame republicans over the white house. this poll shows that 53% of americans say if we go over the fiscal cliff, more blame would fall on republicans in congress. 27% believe the finger would be pointing at president obama. now, the president vowed during his re-election campaign that we would not reach that point but we're -- but we're certainly getting closer. we just learned the president is rejecting the latest counteroffer from republicans. democrats believe they can force republicans to vote on tax increases. house minority leader, nancy pelosi, could be filing the necessary paperwork in a couple of hours. reporting live from washington, d.c., alison burns, ktvu channel 2 news. >>> 7:15. right now, president obama is meeting with a bipartisan group of governors at the white house. reportedly, the governor has requested the meeting with the president. they want to urge president obama to work with congress on a solution to the
by the white house to talk about what the president's pitch is regarding the fiscal cliff. he's been adamant, the top 2% have to pay a higher tax rate and apparently he wanted the folks from the leftist network all on board with him. >> so in the bush administration, we would sometimes need to do something like talk radio row, i think we called it. it was brilliant. we had the conservative talk radio hosts lined up and get a hole bunch of interviews so they could be persuaded on president bush's plan on things like tax reform, immigration. so from a tactical standpoint, i think president obama is saying, let me talk to people so they make sure they know where i'm coming from. here is the thing that he could do, he is talking to people who agree with him. although some people on the left actual will he want him to go even further left. i think he felt like he need to do shore up those things. but i think president obama is miss ago big opportunity here. i think if he invited some people who don't agree with him, he might be surprised at what he could accomplish. he might be able to charm them
of preventing the u.s. from falling off the "fiscal cliff." treasury secretary tim geithner and a white house aide plan to visit with the four house and senate leaders. they hope to find common ground on how to avert a series of tax increases and spending cuts scheduled to begin in january. >>> president obama will have lunch with mitt romney today the first time they meet face to face since their debate before the election. the event at the white house will be private. no aides will be present. no media will be allowed. >>> powerball ticketholders are checking their numbers twice today. >> yeah. good luck. the record-breaking jackpot $588 million. the numbers drawn last night just in case 5, 16, 22, 23, 29 and the powerball number was 6. two winning tickets sold in arizona and missouri. californians may be able to cash in though on powerball prices next year. it's not in our state but lottery officials are meeting this morning up in sacramento trying to hammer out details that would allow the golden state to join the 42 other states in the powerball drawing. california state officials say by
increase on the rich but also will blame the republicans if we go over the fiscal cliff, and this gives, frankly, this gives the white house and this gives the obama administration much more bargaining leverage. >> well, the former treasury secretary has one thing to say but many other voices are a virtual kcacophony where wolf blitzer has to sit every day. >> in the short term the president has more leverage right now because if they do nothing, let's say they avoid any legislation between now and the end of the year, starting january 1st we go over that so-called fiscal cliff, tax rates go up not just for the rich but for the middle class, for everyone, all those cuts in domestic spending and naths security spending, they go into effect. people aren't going to be happy about that, and the president will be able to say, look, i begged them, i repeatedly said 98% of the american public, they wouldn't get a tax increase if we just took them out of the equation, let's pass legislation extending the bush tax cuts for everyone earning under $250,000 a year. they didn't do it. so, you know,
meets with governors at the white house. they will be discussing, what else, the impending fiscal cliff. >>> news corporations uk chief tom mockridge is stepping down. he took over the unit 18 months ago at the height of the company's phone hacking scandal >>> the time has finally come, cory booker taking the food stamp challenge this week. the newark mayor will only be eating with food he can buy for $37. that is the average food stamped benefit in his week. booker said he will be giving up coffee because he can't afford it. that will be tough for us. >> no doubt. >> interesting to see at the end of that how he does. >> i'm sure he will be documenting on twitter what goes on during those days. coming up, one of the strangest cases of cosmetic surgery, can't make this up. did you read about this? mustache implants. that's right. we'll tell you about it next. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male
about a compromise on the fiscal cliff gone now. the white house and congressional republicans seem to be digging in their heels, and americans are bracing for what could be some very real and very painful consequences. >>> one person in missouri not so worried about the fiscal cliff. he or she is ready for a huge payday. powerball officials there set to reveal one to have two winners of that jackpot topping half a billion dollars. we'll tell you who it is. >>> and this photo was just recently taken, but it's already iconic. a new york city cop buying boots for a homeless man on a bitterly cold night. you'll hear from the officer coming up. brand new stories and breaking news on this second hour of ow howe. "happening now." jenna: we're going straight to the president who's in pennsylvania. he's actually at a toy factory, that's what's behind him. in this factory th makes kinects brand toys, the president making this appearance to talk about a fiscal cliff as well. so we're going to listen in to what he has to say potentially about these negotiations. [cheers and applause] >> i want
: in part with a hashtag. my 2k. the white house is saying if the u.s. goes off the fiscal cliff it will cost the average middle class family $2,200 a year and they want middle class social media users, twitter users who don't want that to happen to get online right now. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress. right them an email. post it on their nice book walls. you can tweet it using the hashtag, my 2k. >> reporter: as you heard at the top of the show treasury secretary timothy geithner is going to be on the hill today. one of his meetings will be with senate majority leader mitch mcconnell who just said, we are eager to hear the administration's specific plans for protecting jobs and growth by reducing the national debt, reducing washington spending and preventing a tax hike on every american taxpayer. so, bill, the two sides are talking to each other but it does sound li
that "fiscal cliff." >> rates have to rise and the republicans need to acknowledge that. that's the only way to get from here to there. >> from across the bay to around the world -- >> obviously, you know, we want a family, so, uhm, you know, we have to start thinking about that. >> -- the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda marie macdonald captions by: caption colorado comments@captioncolorado.com >>> good morning, it's tuesday, december 4. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it is 6:32. a huge pot bust at a home in east san jose. this morning neighbors reported a burglary happening at a home on the 1300 block of sandalwood court. when police got there they found the front door open. they entered the home and discovered an elaborate grow house there. we have live pictures of the house here. in fact, officers say there was no furniture inside the home at all just about 300 pot plants with a street value of $125,000. and because of all the chemicals inside the home, they called the fire department. no word on who ow
a lot today about the need to strike a fiscal cliff deal and what they were doing is tacking with each other, with no new talks scheduled between the major players in the debate and the speaker of the house finds himself defending his own plans for members of his own party. in northwest d.c., president obama is on the hard sell trying to convince a group of business executives to support raising taxes on the wealthy. >> let's allow higher rates to go up the top 2%, and that includes all of you, yes? >> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a "washington post" poll finds 53% would blame republicans if the country went over the fiscal cliff while only 27% would blame the pre
cliff which is why we have our eyes on the white house press briefing. got a live picture ready for you so we don't miss anything. for what it's worth, president obama and house speaker boehner are talking. they had a nice telephone conversation. that's terrific. the first time in a week but apparently that's the headline. that's the editorial body. not much came out of it that we know of. sources say no real breakthrough. no formal negotiations. sessions are not scheduled. no back channel discussions taking place that anybody knows about at this time and as we wait for the white house briefing to begin, let's bring in wolf blitzer on this topic. there are a couple of polls that are very telling about how americans feel about congress and the president are behaving when it comes to the fiscal cliff. let me read some of these numbers for you. should obama compromise to get things done. 72% say yes. 22% say no. should the gop compromise to get things done. and take a look. 72% say yes. my question for you, wolf, i'm not sure you'll have the answer but perhaps you'll have guidance. for tho
and democrats are at a stalemate again in negotiations to avoid the "fiscal cliff." susan mcginnis reports, key players took to the sunday talk shows to make their stances known. >>> reporter: the white house is already decorated for the holidays but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act, america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with a nearly $3,500 hangover. treasury secretary timothy geithner was here on capitol hill last week to present the president's plan to congress. >> i was flabbergasted. you can't be serious! >> reporter: president obama wants $1.6 trillion on the rich, $400 billion in cuts to entitlement programs and billions in more spending. >> reporter: mitch mcconnell laughed at geithner during their meeting last week. now geithner says if republicans don't like the plan, it's up to them to present their own ideas. >> what we can't do is try to figure out what works for them. they have to tell us what w
house is absolutely ready to go over the fiscal cliff this january. that's the word from treasury secretary timothy geithner who appeared yesterday in an interview with cnbc. taxes are still the major impact and geithner says there is no path to an agreement that does not involve a tax hike on the wealthiest 2%. even some members of the g.o.p. are encouraging lawmakers to support the tax hikes in exchange for a broader deal on health and retirement programs. mainly republicans want to see an increase in the medicare eligibility age as well as a smaller amount of inflation applied to social security. the longer speaker boehner waits on a compromise, less bargaining power he will have. many say now is the time to give in on taxes. it is a big day in washington state for same-sex couples who will be able to pick up their wedding certificates today. voters in washington, maine and maryland approved same-sex marriage on the ballot in november. and yesterday, governor chris gregoire signed that into law calling this the las
at's where we begin this morning. >> fiscal cliff deadline, president obama sends his treasury secretary to capitol hill to negotiate with congre congressional leaders. major garret is at the white house. good morning. >> charlie and norah, even as negotiations intensify, campaigning continues at the white house. president obama is adamant about protecting existing income tax rates for middle income earners and raising them on the wealthy. for the president the politics of this is very simple. he he ran on that issue and against republican obstructionism and won. if republicans don't relent on his issue, other fiscal cliff matters won't be discussed in the president's campaign to end the stalemate will continue. -election pond time since winning re-election, president obama welcomed the applause of hand-picked supporters and wa his calls tolicans not to ignore is calls to protect middle class households. >> it's time for us to work on >> reportel agreed to, which is allow eep middle class tax cuts for >> tax cuts for households that earn more than $250,000 to in a expire. incre
in the ground here for a long time. >> the white house rejects a republican counter plan to avoid that "fiscal cliff." >> republicans need to acknowledge it that that's the only way to get from here to there. >> from across the bay to around the world -- >> obviously, we want a family so we have to start thinking about that. >> -- the stories that matter on "eyewitness news this morning." ♪ [ music ] >>> good morning. it's tuesday, december 4. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it's 5:31 on this tuesday. muni service back to normal on market street this morning. power was just restored to the subway. last night service was shut down for hours. cate caugiran joins us now. >> reporter: they had their hands full yesterday michelle and frank. but i just spoke with a muni spokesman on the phone who told me in terms of the morning commute, they are happy to say that again all trains are back up and running an service has been fully restored. now this is because crews were working well into the night to restore power to all of those underground transit stations. now, all tra
presenting a plan to avoid the fiscal cliff. first and foremost, avoiding increasing and eliminating deductions on of her earnings to raise an additional $8 billion. $1.2 trillion in new spending cuts. the white house, no surprise, already rejecting the plan. the president saying the gop plan is out of bounds because it does not include higher taxes on the wealthy. we are joined now by a chief economist. why does it seem the only solution to be satisfied with is to raise taxes on the wealthy? >> they clearly staked out this position during the campaign. they feel they have a mandate for it. i am sort of skeptical. the sticking point is the tax rate question on the wealthy. however, with that said, progress has been made in the sense that the republicans are not willing to raise taxes, not rates, on the rich. democrats are saying they are more open to entitlement cuts, if you will, reform, whatever you want to call it. they are making progress. [talking over each other] the question is: you know, how far are both sides willing to go down to the wire to avoid this. whether it is the d
up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff because they obviously will not ever say the word tax. they will only say revenue. i'm stuck spe
the fiscal cliff. >> one possibility in all of this, simply no agreement. the impact on the government and every single american taxpayer. it's thursday, december 6th. >> announcer: from abc news, this is "world news now." >>> good thursday morning. >> morning. >> i'm paula faris. we did establish morning is spelled m-e-r-n-i-n-g. >> m-e-r-n-i-n-g. nicely done. >> "merning," everybody. >> i'm rob nelson. we'll get to the discouraging situation on the fiscal cliff in just a moment. we do have each a verbable this morning. >> not yet. >> going to wait for it. very high tech. >> so high tech. working on this prop all day. all morning. >> weeks of planning. >>> we also have a major development in the case of software mogul john mcafee arrested last night. this morning police are taking more action after he tried to seek asylum in guatemala. a strange story gets even stranger. again he is now under arrest. >> bizarre to the nth degree there. >> yeah. >>> also this morning -- weeding through all the details on washington state's new law. [ coughing ] taking effect this morning. get it? that
a fallback plan for the so called "fiscal cliff", which includes extending tax cuts for the middle class and resuming a fight over spending and taxes for the wealthy later. meanwhile, going overseas, nato makes a move on the turkish border with syria. military officials deny preparations for military intervention. protesters in egypt march on the palace as mohamed morsi flees. international and domestic news is all on the table for you this morning as we open up the phone lines. also, send us a tweet. or post your comment on facebook. or send us an e-mail. we will get back to that new york times story. first, some other headlines on the domestic front. here is the "washington times." also, sticking with the senate, the baltimore sun reporting this headline -- in politics, here is the denver post -- open phones before the first 30 minutes. we have a short show because the house is coming in at 9:00. steve in gaithersburg, maryland, a republican caller. caller: host: when did the republican party become the party that restricts poor? i understand the tax cut for the rich is important to so
to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica, the president spoke out, sat down in an interview with bloomberg tv, and in listening to the interview, did you hear any clues toward a possible compromise here? >> reporter: not new clues, brooke. the president laid down the marker that we heard from the white house consistently, which is they aren't moving until they hear the republicans agree to raise tax rates on the wealthiest. listen to what the president had to say. >> i think that, you know, we have the potential of getting a deal done, but it is going to require what i talked about during the campaign, which is a balanced responsible approach to deficit reduction that can help give businesses
would be cuter than that picture, too. >> i think so. >>> the latest on that fiscal cliff. everyone's taxes set to go up in just 27 days if congress and the white house can't strike a deal. and publicly, at least, president obama is taking a harder line with every day that goes by. abc's jake tapper is covering it all from the white house. and it's clear that president obama believes he has the upper hand here. >> reporter: he sure does, george. and later today, president obama will speak to corporate executives at the business roundtable. and he'll try to enlist their help in his negotiations with congressional republicans. and his latest demand, that congress remove its own power as it stands right now, to raise the debt ceiling. it is a bold gambit that congressional republicans are already calling a non-starter. paul ryan stepped back into the spotlight late tuesday, with a feisty shot at the president. >> i congratulate him on his victory. but on january 20th, he'll face a stagnant economy and a fiscal mess. you might even say he'll inherit these problems. >> reporter: there's
and the president until the fiscal cliff is avoided. unlikely, but a reflection of voter frustration as both sides dig in. the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times
's talking to congressional leaders about the fiscal cliff? tim geithner. obama goes on the road, look at that video. tim geithner arriving at the white house. capitol hill, dow industrials up 63 points in the early going this there's a morning. recovering investment banker carol roth is here, charles payne is here and nicole petallides on the floor. she looks really angry, on the floor of the stock exchange. new at 10:00, is the mortgage deduction on the table in the fiscal cliff talks, the answer is yes. >> at this point everything is on the table. the challenges you have to question where the limit is. do we want people to the grandfathered in, you don't want anyone to get a new mortgage, we have ridiculously low interest rates, stocks in terms of prices, we don't need it to the grandfathered and the table for the future. stuart: i don't believe anyone is saying abolish the mortgage interest deduction. and a certain amount year is what they were saying. and the interest on it is -- they lower that. charles: there are some people that are derivative. stuart: there is no prayer of tha
's happened over the last couple of weeks. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious, as well. >> all right. so once again, here are the cliff notes right here. republicans on the hill are demanding trillions of dollars worth of debt reduction. that's pretty much fine with democrats who say the wealthy should foot the bill in the form of higher tax rates. and therein lies the catch because the republicans want the savings of federal spending cuts. that dispute blocking efforts to keep rates from rising on everyone. as scheduled on january 1st. this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i
with business leaders again today to talk about the consequences of going over the fiscal cliff. he's also claiming to call on congressional leaders to make sure we raise the debt ceiling without contention. the white house making the case that extending the bush tax cuts for the middle class is directly connected to the health of our businesses. companies need to know consumers will be able to spend and in his first post-election interview president obama again rejected the house republican counteroffer that is on the table. >> unfortunately the speaker's proposal right now is still out of balance. we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> let's hope he sticks to it. >> g.o.p. leaders aren't only dealing with the president and congressional democrats they're dealing with a split within their own ranks. more conservative republicans don't want party leaders to compromise anymore than they think they already have. even though the republican plan offers u
journal," it is 10 minutes. the >> host: looking at the fiscal cliff we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. congress and white house negotiate how to move forward. joining us to talk about this from "the wall street journal" is john mccann in. let's start out with the basics. what are loopholes and deductions? we hear those words a lot, but what are they? >> guest: loopholes are in the eye of the beholder. who pulls our tax breaks of all different sorts and what do you make a particular loophole or not depends on where you said i think. there are lots of loopholes that are deductions are deductions are the ones that most people are most familiar with. the big itemize deductions are things like a home mortgage interest deduction. there is a deduction for state and local taxes is very important. the deduction for charitable contributions is real important. there's all kinds of other breaks that exist in a tax code that people are less familiar with. there were some of those people aren't aware that all that are very big an
out a deal before we all go over the so-called fiscal cliff? >> i think we're going over the cliff. >> harris: a dire prediction about the reality which could hit us all. and in this, from the man picked to represent the white house in all this. >> i think we have a very good chance for coming together on agreement. >> is that just wishful thinking or is there something going on behind the scenes that we don't know about? tonight, getting a handle on where we really stand in the showdown over taxes and spending cuts. and, one of the busiest forces in the world is in los angeles and there's a good chance something in your home once passed through here. now, union workers hitting picket lines, refusing to work until they get what they want. fox reports. the potential economic fallout on the rest of us from a union fighting to survive. and some less than bright criminals caught on tape. they're trying to steal gas from a golf course, but something they didn't plan on keeps them from make ago fast get away. the video you just have to see. i'm harris falkner, tonight, both republicans a
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